BI Asset Management Fondsmaeglerselskab A S Buys 1,558 Shares of SBA Communications Co. (NASDAQ:SBAC)

BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 21.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,855 shares of the technology company's stock after acquiring an additional 1,558 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in SBA Communications were worth $1,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Evermay Wealth Management LLC bought a new stake in SBA Communications in the fourth quarter worth approximately $27,000. Graney & King LLC bought a new stake in SBA Communications in the fourth quarter worth approximately $29,000. Oakworth Capital Inc. increased its holdings in SBA Communications by 161.8% in the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock worth $47,000 after purchasing an additional 144 shares in the last quarter. CKW Financial Group bought a new stake in SBA Communications in the fourth quarter worth approximately $56,000. Finally, Versant Capital Management Inc increased its holdings in SBA Communications by 17.3% in the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company's stock worth $73,000 after purchasing an additional 53 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SBAC shares. Wells Fargo & Company upped their target price on SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. Barclays upped their price objective on shares of SBA Communications from $240.00 to $244.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Morgan Stanley started coverage on shares of SBA Communications in a report on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 price objective on the stock. Citizens Jmp upgraded shares of SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $255.00 price objective on shares of SBA Communications in a report on Monday, February 24th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $251.92.

SBA Communications Trading Down 0.3 %

SBAC stock traded down $0.75 during midday trading on Friday, hitting $222.09. The company's stock had a trading volume of 855,695 shares, compared to its average volume of 906,240. The company has a market cap of $23.90 billion, a PE ratio of 35.03, a P/E/G ratio of 0.74 and a beta of 0.83. The firm's 50-day moving average is $219.14 and its 200-day moving average is $216.43. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $1.11 per share. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from SBA Communications's previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a yield of 2.00%. SBA Communications's payout ratio is 63.98%.

Insider Buying and Selling at SBA Communications

In other news, VP Joshua Koenig sold 2,209 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $224.18, for a total value of $495,213.62. Following the transaction, the vice president now owns 6,079 shares of the company's stock, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.92% of the stock is currently owned by corporate insiders.

SBA Communications Company Profile

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.